Corpay, a leading international payment technology firm, has begun offering stablecoin wallets and blockchain-based payment solutions to its global corporate clients. With this move, the company aims to accelerate financial transformation and enable money transfers outside of traditional banking hours, providing greater flexibility for businesses worldwide.
Innovation in corporate payments through new features
The new stablecoin features integrated into Corpay’s payment infrastructure have been made possible through collaboration with BVNK. This allows Corpay users to view both their fiat balances and stablecoin assets simultaneously on the platform. In addition, the incorporated wallets enable users to send, receive, store, and convert stablecoins directly within the system.
Corpay’s management announced that this system will also be actively used for the company’s own treasury operations. According to the company, the stablecoin infrastructure will help reduce dependency on pre-funded accounts, improve capital efficiency, and simplify international fund transfers.
Blockchain and comprehensive payment networks
Corpay has also integrated blockchain-based payments into its platform. JPMorgan’s proprietary Kinexys blockchain network and BVNK’s stablecoin technology have been launched for use in select payment corridors. Beyond this, Corpay offers access to SWIFT, its own iACH network, and real-time local payment options on the platform.
The new wallet support powered by BVNK brings stablecoin functionality directly to clients, delivering greater speed and flexibility in payment workflows. BVNK is recognized as a key provider enabling numerous firms in the payments sector to establish stablecoin infrastructure.
In 2024, Mastercard agreed to acquire BVNK for up to $1.8 billion. At the beginning of the year, Visa also partnered with BVNK to support stablecoin payments via its Visa Direct service.
Growing stablecoin adoption across the industry
A number of other payment firms are making similar moves. Stripe is developing stablecoin payment capabilities through its Bridge platform, while Worldpay, utilizing BVNK’s technology, now offers stablecoin payment acceptance for merchants worldwide.
Stablecoin usage is especially gaining traction in operationally intensive processes. These digital assets offer payment providers alternative solutions for liquidity management, treasury functions, and international money transfers without time constraints.
However, despite increased attention, stablecoin payments still account for a relatively small share of global cross-border flows. Still, year-on-year growth is notable. According to data from Visa, stablecoin transaction volume exceeded $1.2 trillion in the last thirty days, up from $733 billion during the same period a year ago.
According to Visa data, stablecoin transaction volume soared to $1.2 trillion over the past thirty days, marking a significant increase compared to the same period last year.
